Google Announces Q2 2011 Results; The Numbers Are Quite Awesome

Google announced the financial results for the second quarter of 2011 today, and the numbers have been great.

I’m going to highlight the most important points in this post.

Revenues and Profits

In Q2 2011, Google’s revenues grew 32% year on year, to $9.03 billion. Its net income grew to $2.51 billion, up 36% over Q2 2010.

Cash

Google is now sitting on a huge stash of cash, which it can use to fund future acquisitions and further expansion. It has close to $39.12 billion in cash, cash equivalents and marketable securities.

Android

Android has been one of Google’s greatest successes in the past years. Larry Page announced that Android was now seeing 550,000 device activations a day, up from 500,000 just 2 weeks back. It’s currently growing at the rate of 4.4% per week.

It is now on 130 million devices in total. All the patent wars don’t seem to have affected the growth of Android much.

Chrome

Chrome is the fastest growing web browser in the world. It now has over 160 million users and has a market share higher than 20%, making it the third most popular browser after Internet Explorer and Firefox.

Google+

Finally, we come to the talk of the town – Google+. Google+ has exploded in terms of users in the two weeks that it has been available. Though it is still invite only, it has attracted more than 10 million users. More than 1 billion items have been shared on Google+ already.

Strategy

Larry also announced how Google thinks about its products. They group them into three categories.

Search and Ads: The core driver of revenue for the company.

Consumer Products: YouTube, Android and Chrome.

New Products: Google+, Commerce and Local.

He ended the call with a very nice quote: “All of us at Google want to create services that people across the world use twice a day â€¦ just like a toothbrush!”

The overall market sentiment about Google is very positive. Google’s stock is up 13% in after-hours trading and may cross the $600 barrier today.